Limited Brands downgraded apparel division concerns

NEW YORK (MarketWatch) -- Limited Brands
LTD, +0.71%
was downgraded to "underweight" from "neutral weight" at Prudential on the belief that the retailer's apparel division will miss March same-store sales and first-quarter earnings estimates. Analyst Stacy Pak lowered her stock price target to $21 from $22, her fiscal first-quarter earnings estimate to 10 cents a share from 13 cents and her 2005 earnings forecast to $1.53 a share from $1.56. She thinks March same-store sales could be down 7 percent vs. the company's projection of low single digit percentage decline. The stock closed Monday up 40 cents at $23.77.

Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.